Godrej Properties to develop residential project in Delh

Godrej Properties on Monday announced that it will a develop a 'luxurious' residential project in Delhi through a joint venture with TDI Group.

In an exchange filing, the company informed that it entered into a joint venture with TDI group to develop an ultra-luxury residential project in Connaught Place, one of the most premium location within the Central Business District of New Delhi. The project is estimated to have a developable potential of approximately 125,000 square feet saleable area comprising primarily of residential apartments of various configurations.

Mohit Malhotra, MD & CEO of Godrej Properties, said, As we continue to strengthen our presence in Delhi, we are happy to add this project in one of downtown Delhi's most desirable locations. This will be our third project in Delhi and further expands our presence across India's leading cities.

Kamal Taneja, MD of TDI InfraCorp, said, We are proud to be associated with Godrej Properties to deliver this uber-luxury project and we look forward to this association.

Godrej Properties is engaged in construction and real estate development. The company's consolidated net profit stood at Rs 35.7 crore in Q2 FY22 steeply higher than Rs 7.10 crore posted in Q2 FY21. Revenue from operations grew by 44.4% YoY to Rs 129.32 crore in Q2 FY22.

The scrip rose 0.15% to end at Rs 2023.15 on Friday.

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